Steel products prices in China extended decline in early May (May 1-10), according to the latest data from the National Bureau of Statistics (NBS).
This came following an increase of supply while demand from the downstream sectors remained subdued due to the COVID-19 virus.
The average price of construction steel rebar (HRB 400, 20mm) at 25 major cities in China stood at 4,944.7 yuan/t during the period, down 28.2 yuan/t or 0.6% from ten days earlier.
Prices of wire (HPB 300, 6.5 mm) averaged 5,119.2 yuan/t in the same period, down 21.0 yuan/t or 0.4% from ten days ago.
Prices of common medium plate (Q235, 20mm) declined 14.4 yuan/t or 0.3% from the preceding session to 5,258.7 yuan/t.
Hot-rolled plate (Q235, 3mm) decreased by 72.8 yuan/t or 1.4% to 5,098.1 yuan/t.
Seamless steel tube declined 45.2 yuan/t or 0.7% to 6,163.0 yuan/t.
Angle steel fell 92.7 yuan/t or 1.7% to 5,357.5 yuan/t, data showed.
(Writing by Emma Yang Editing by Tammy Yang)
For any questions, please contact us by inquiry@fwenergy.com or +86-351-7219322.